Mr. Cooper Group Appoints New Chief Risk and Compliance Officer
Mr. Cooper Group (NASDAQ: COOP) announced Kurt Johnson's promotion to Executive Vice President and Chief Risk and Compliance Officer, expanding his role as Chief Credit Officer. With over 20 years in the mortgage industry, Johnson has been pivotal in establishing risk policies, notably advocating for mortgage relief during the pandemic through the CARES Act. He succeeds Steve Covington, who is retiring in June after nearly six years. Johnson is expected to leverage his expertise to enhance relationships with regulators and maintain the company’s strong risk management standards.
- Kurt Johnson's extensive experience in risk management and policy development expected to enhance regulatory relationships.
- Continuity in leadership with a smooth transition plan to maintain operational stability.
- Leadership transition may cause temporary disruptions as responsibilities shift.
- Potential concerns about continuity as Steve Covington, a long-term leader, retires.
Mr. Cooper Group Inc. (NASDAQ: COOP) today announced that Kurt Johnson, who has been with the company for five years and most recently served as the company’s Chief Credit Officer, will now also lead risk and compliance for the organization as Executive Vice President and Chief Risk and Compliance Officer. With more than 20 years of experience in the mortgage industry, Johnson has led critical work for the company in setting risk related policy and governance. Most recently, he led the charge within the company and the industry on the mortgage relief options included in the CARES Act, working with government agencies to advocate for homeowners and ensure Mr. Cooper customers had solutions during the pandemic.
Kurt Johnson, Executive Vice President and Chief Risk and Compliance Officer (Photo: Business Wire)
In his expanded role, Johnson replaces Steve Covington, who has been with the company for nearly six years and recently served as Chief Risk and Compliance Officer, as he transitions into retirement in June. Johnson and Covington will work together to ensure a smooth transition over the coming months.
“Kurt is one of the most credible risk and policy experts in our industry, and I am confident he will continue to build upon the relationships the team has established with regulators and government officials in his expanded role,” said Jay Bray, Chairman and CEO of Mr. Cooper Group. “I would like to thank Steve for his leadership in building a best-in-class risk and compliance organization, which is a pillar strength for Mr. Cooper, and wish him the best in his well-deserved retirement.”
Prior to joining Mr. Cooper Group, Johnson spent six years as Executive Vice President at OneWest Bank. Earlier in his career, Johnson helped develop a streamline modification program that served as the template for the Home Affordable Modification Program (HAMP). Johnson holds a bachelor’s degree in economics from Occidental College and a master’s degree in business administration from Cornell University.
“At Mr. Cooper Group, risk management is an ongoing focus for the company’s leadership, and that includes investing in world-class infrastructure, meeting regulatory and customer expectations, and making sound business decisions to ensure we remain a source of strength for the housing market in all environments,” said Johnson.
About Mr. Cooper Group
Mr. Cooper Group Inc. (NASDAQ: COOP) provides quality servicing, origination and transaction-based services related principally to single-family residences throughout the United States with operations under its primary brands: Mr. Cooper® and Xome®. Mr. Cooper is one of the largest home loan servicers in the country focused on delivering a variety of servicing and lending products, services and technologies. Xome provides technology and data enhanced solutions to homebuyers, home sellers, real estate agents and mortgage companies.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210407005328/en/
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